5. Taxpayer A and B formed a partnership to construct an apartment building on...
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Taxpayer A and B formed a partnership to construct an apartment building on December Taxpayer A contributed $ cash and Taxpayer B contributed land $ fair market value and $ basis in exchange for a interest in AB Partnership. On December the partnership borrowed $ from a local bank to begin construction. Taxpayer A is a general partner and Taxpayer B is a limited partner. What is the tax basis of Taxpayer A at the end of
Taxpayer A and B formed a partnership to construct an apartment building on December Taxpayer A contributed $ cash and Taxpayer B contributed land $ fair market value and $ basis in exchange for a interest in AB Partnership. On December the partnership borrowed $ from a local bank to begin construction. Taxpayer A is a general partner and Taxpayer B is a limited partner. What is the tax basis of Taxpayer A at the end of
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